Lifestyle Asset Management Inc. Makes New $207,000 Investment in The Coca-Cola Company (NYSE:KO)

Lifestyle Asset Management Inc. bought a new position in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,880 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KO. Harvest Portfolios Group Inc. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at approximately $18,383,000. Balentine LLC boosted its holdings in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares in the last quarter. State of Alaska Department of Revenue grew its position in Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after buying an additional 21,005 shares during the period. Swedbank AB acquired a new stake in shares of Coca-Cola during the 1st quarter valued at approximately $102,604,000. Finally, BDF Gestion purchased a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $7,421,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $63.66 on Friday. The Coca-Cola Company has a 52 week low of $56.06 and a 52 week high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market cap of $274.23 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.96 and a beta of 0.61. The stock has a 50 day moving average of $69.90 and a 200-day moving average of $66.43.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.05%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Wall Street Analyst Weigh In

KO has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial increased their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Barclays cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,150,619.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 203,748 shares of company stock worth $14,274,431 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.